- Rain Therapeutics Inc (NASDAQ:RAIN) announced preliminary data from Phase 2 basket trial evaluating milademetan for MDM2-amplified advanced solid tumors.
- “Treatment with milademetan led to tumor regression in patients previously treated with a multitude of therapies across a range of cancers. We look forward to expanding this dataset as the trial continues to enroll,” said Avanish Vellanki, co-founder & CEO.
- Seventeen patients have been enrolled, 15 of whom have been dosed with milademetan. Ten patients were efficacy-evaluable.
- Two unconfirmed partial responses (PRs) were observed with tumor regression of 34% and 30% (pancreatic and lung cancer, respectively).
- Related: This Cancer-Focused Stock Has 60% Potential Upside, Bullish Analyst Says.
- Two patients exhibited promising activity with tumor regression of 29% and 27% (biliary tract and breast cancer, respectively), and the patients are continuing with the investigational therapy.
- Safety profile to date is preliminarily consistent with prior Phase 1 trial of milademetan
- Concurrently, Rain Therapeutics priced a registered offering of 6.86 million shares and 1.72 million non-voting shares at $5.83 per share, with gross proceeds of approximately $50 million.
- Price Action: RAIN shares are up 2.92% at $6.00 on the last check Friday.
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